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Long term capital gain

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Querist : Anonymous

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Querist : Anonymous (Querist)
03 April 2012 My Father have 500 shares of XYZ company since 1990, now if he sells share at current price.

He is liable for LTCG or it is exempt ??
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VIVEK SHARMA

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VIVEK SHARMA (Expert)
03 April 2012 The long term capital gain on equity shares or units of equity oriented mutual fund which are sold in the stock exchange and on which securities transaction tax is paid, is exempt u/s 10(38).
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Querist : Anonymous

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Querist : Anonymous (Querist)
03 April 2012 Thanks Vivek.
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